To claim the deduction, you must itemize all your deductions on your tax return using Schedule A, and you must have a receipt or other documentation from the charity confirming the donation and the fair market value of the dress.
It's important to note that there are certain rules and limitations that apply to charitable deductions, so it's a good idea to consult with a tax professional or refer to IRS guidelines to ensure you are following the proper procedures.
FlyFin's CPA team specializes in 1099 taxes and helps you find every deduction that you qualify for.
Approximately 45,000 freelancers miss out on lowering their tax bill simply because they didn't know about the thousands of expenses – like a wedding dress – can be deducted.
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With a combined 150 years of experience, FlyFin's CPA tax team includes tax CPAs, IRS Enrolled Agents and other tax professionals, offering users the most comprehensive tax advice and preparation.